According to a new market research report, the “Immersion Cooling Market by Type (Single-Phase and Two-Phase), Application (High-Performance Computing, Edge Computing, Cryptocurrency Mining), Cooling Fluid, Components (Solutions, Services), and Geography – Global Forecast to 2030″, Immersion cooling market size is projected to reach USD 1,710 million by 2030 from USD 302 million in 2022 growing at a CAGR of 24.2%.The market for immersion cooling has generated significant in the past couple of years and as a result the market has been experiencing significant growth. Initially, the market was propelled by demand for immersion cooling of cryptocurrency mining machines. This equipment generate tremendous heat due to high processing power. Hence, efficient cooling was necessary for machines so that processing power could be maintained. Immersion cooling systems provided an optimal solution in terms of heat dissipation efficiency. As the immersion cooling technology evolved, companies found new avenues wherein immersion cooling solutions could be provided. Today, immersion cooling technology is proving to be vital for cooling of high compute power servers used predominantly in applications such as high-performance computing, edge computing, and artificial intelligence.
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- “Immersion Cooling Market – Global Forecast to 2030″This report also provides a comprehensive analysis of the companies listed below:
LiquidStack (Netherlands), Green Revolution Cooling Inc (US), Submer (Spain),
Iceotope Technologies Ltd (US), DCX – The Liquid Cooling Company (Poland), ExaScaler Inc (Japan), SixtyOneC Technology Corporation (Canada), Engineered Fluids (US) and TIEMMERS (Netherlands), TMGcore, Inc. (US), GIGA-BYTE Technology Co., Ltd. (Taiwan), Wiwynn (Taiwan), Hypertec (Canada), TAS (US), and Delta Power Solutions (Taiwan) Partnership and collaboration are two prominent strategies prevailing in the immersion cooling market. Immersion cooling solutions is used for cooling data centers and to reduce the cooling energy consumption. This subsequently reduces the overall power consumption by data centers, leading to a low carbon footprint. These advantages are expected to drive the demand for immersion cooling solutions across the world.
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The cryptocurrency mining segment will hold larger share of the immersion cooling market during the forecast periodCryptocurrency valuation started to increase in the second half of 2020. However, it was in 2021 when the valuation skyrocketed. This development led to an increased demand of cryptocurrency mining machines for personal and business use. However, cryptocurrency mining machines can only function at full efficiency at temperatures between 15-35 ◦C. This resulted in an increased interest in immersion cooling technology as it provides the most cost-effective way to get the maximum hash rate from any ASIC- or GPU-based cryptocurrency miner. Today, Green Revolution Cooling Inc. (US), Submer (Spain),LiquidStack (Netherlands), Midas Green Technologies (US), and DCX – The Liquid Cooling Company (Poland) are the major providers of immersion cooling systems for cryptocurrency miners.
North America likely to hold larger share in the immersion cooling market during the forecast period.The North America region has the largest installations of data centers based on capacity. The US also accounts for presence of technology giants such as Google, Microsoft, Facebook, Apple and many more data intensive firms. Companies such as Microsoft, Dell Technologies, and Intel are already experimenting with immersion cooling technology albeit at a smaller scale. Recently, data intensive firms have also come under scrutiny for building data centers in remote areas of Texas. These data centers have air cooling technology in place for cooling servers, and the electricity generated for operating these air coolers is through hydro power. This has affected the water consumption of the local population leading to drought like conditions. Immersion cooling systems consume lower electricity than air cooled data centers and hence have been touted as being more environmental friendly. North America is also home to a majority of immersion cooling solutions providers such as Green Revolution Cooling and dielectric coolant fluid manufacturers such as 3M. As a result, the market in this region is expected to lead during the forecast period.
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